XOM - Exxon Has Rallied but I'm Still Glad I Switched to This Stock Instead
Shares of ExxonMobil (NYSE: XOM) have rallied 50% so far in 2021. That's an incredible run that is roughly twice as large as any of its major peers. At this point, my switch into TotalEnergies (NYSE: TOT) might look like a mistake, given the French oil giant's stock is only up around 10% so far this year. However I'm not upset I made the move. Here's why.
I don't believe that the move away from oil and natural gas is going to be a quick one. In fact, I expect it to take decades, at the very least, for the world to materially shift from the carbon-based fuels that are currently at the core of the global economy. However, I'm not going to stick my head in the sand and ignore the fact that a clean energy transition is taking place. TotalEnergies, like many of its European energy peers, has laid out a plan for adjusting with the rest of the world. In fact, it was already going down that path before 2020 , when it put forward its blueprint for a cleaner future.
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Exxon Has Rallied, but I'm Still Glad I Switched to This Stock Instead